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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

previous next Effective - 01 Jan 2005, see footnotebottom

  456.7-708.  Compensation of trustee. — 1.  If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.

  2.  If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:

  (1)  the duties of the trustee are substantially different from those contemplated when the trust was created; or

  (2)  the compensation specified by the terms of the trust would be unreasonably low or high.

  3.  For purposes of this section, reasonable compensation may include fees that take into account the administration of both income and principal whether or not the will or trust instrument contains provisions relating to compensation of the trustee.

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(L. 2004 H.B. 1511)

Effective 1-01-05


---- end of effective   01 Jan 2005 ----

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